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"Despite trading in a range over the last 12 years, we believe 2012 could be a break-out year for WMT stock," Bank of America Merrill Lynch analysts wrote in a report on Wednesday.
The analysts noted that Wal-Mart's U.S. same-store sales are slated to continue improving and that "Walmart is positioning for successful e-commerce globally."
Shares of Wal-Mart hit a 52-week high of $62.48 on Wednesday. The stock's 52-week low of $48.31 was set on Aug. 10.
TheStreet Ratings gives Wal-Mart an A- grade with a
$70.42 price target. The stock has risen 4.32% year to date.